Who We Are
Waterbear Group was built to acquire and operate small businesses because this is where hands-on operating experience matters most. We've sat in that seat, We have been responsible for customers, employees and making payroll. We know a good business doesn't always come with polished reporting or processes that run without its owner, and we know how to plan a transition around that. Our goal is to partner with owners to preserve what makes these businesses strong and carry them into their next chapter.
Led by David Borom
David Borom is an operator and private investor who has bought, run and sold a business.
Background
Transaction advisory at Loop Capital Markets: Analyzed 100+ businesses for PE funds and corporate buyers, with a focus on business valuation and quality of earnings.
Operating Experience
I was President of a business serving schools, universities and youth sports organizations. We acquired it with SBA 7(a) financing and investor capital in January 2020, just weeks before COVID closed schools nationwide. Revenue fell by more than half that year, but we stayed current on debt service.
From there we grew revenue nearly 5x off the 2020 trough by building the company's first sales team, winning institutional contracts through formal RFPs, standardizing pricing and adding three tuck-in acquisitions. The team grew to more than 100 people including seasonal staff, and more than 50 full-time equivalents.
I ran the P&L and the finance function, including budgeting, cash forecasting, and lender and investor reporting. In 2025 we refinanced the full debt stack, cutting interest expense by about half. By the time we sold the business to two strategic buyers in January 2026, a four-person leadership team I built was running daily operations.
Based in Chicago, I focus on Midwest businesses where hands-on involvement makes the biggest difference.
How We Invest and Operate
My Role
I take responsibility for the P&L, budgeting, cash forecasting, and financial reporting, and work with management on customers, staffing, and operating priorities. I work directly with the owner to agree on the handover and set priorities.
Working With Management
We learn from the people who know the customers and the work, make responsibilities clear, and explain the reasons behind changes. We use the numbers to see where performance can improve, then work with the people responsible for delivering it.
Capital and Growth
I invest personal capital in every deal, and on larger transactions I invite co-investors I already know. We focus on one platform at a time. Growth starts with the business we own, and we add acquisitions when they bring customers, capabilities, or reach that strengthen it.
References from my prior seller and lender are available on request.
Our Operating Philosophy
Show Up
We're in the building, in the relationships, and in the details. We don't manage from a distance.
Understand Before You Change
We learn how the business works before changing anything material. We bring operating experience, not assumptions about your industry, so we start with the people doing the work: how customers are served, where problems arise, and what keeps things moving. What has worked here matters more than what we might have done elsewhere.
Steady Through Volatility
When COVID closed the schools we served just weeks after we closed on our first business, there was no work for our field staff. We protected the team as best we could and restored their hours as soon as we could.
Invest in Teams
We promote from within first. We plan for key managers to share in the value they help build, with details worked out once a deal is agreed. At our first platform, the team grew with multiple internal promotions. The team that built a business is usually the team that grows it.
A Quick No Is Better Than a Slow Maybe
We pass on most of what we see. When we tell you we're interested, it means we've done the work. When we're not the right fit, we explain why and won't waste your time. Clarity early saves everyone time.
Ready to Learn More?
For Brokers & Advisors
Clear criteria, an initial answer within two business days, and a buyer who has closed with SBA financing and holds a current pre-qualification letter.
View Deal Criteria →For Business Owners
Let's discuss what you want for the business and whether we're the right next owner. Not every conversation needs to lead to a sale. We also offer focused financial and operating support to owners who plan to keep their companies.
Start a Conversation →